Chicago, Sept. 6 – Guggenheim Partners Investment Management LLC priced $405.1 million of notes due Oct. 15, 2032 in a new collateralized loan obligation offering, according to a market source.
Guggenheim CLO 2019-1 Ltd./Guggenheim CLO 2019-1 LLC sold $250 million of class A-1A senior floating-rate notes at Libor plus 143 basis points, $6 million of class A-1B senior floating-rate notes at Libor plus 190 bps and $42 million of class A-2 senior floating-rate notes at Libor plus 210 bps.
The CLO also priced $30 million of class B deferrable floating-rate notes at Libor plus 267 bps, $24 million of class C deferrable floating-rate notes at Libor plus 370 bps, $16 million of class D deferrable floating-rate notes at Libor plus 698 bps and $37.1 million of subordinated notes.
MUFG Securities America Inc. was the placement agent.
Guggenheim will manage the CLO.
The notes have a two-year non-call period and a five-year reinvestment period.
The deal is collateralized mainly by broadly syndicated speculative-grade senior secured corporate loans.
The investment management firm and subsidiary of Guggenheim Partners, LLC is based in Santa Monica, Calif.
| Issuers: | Guggenheim CLO 2019-1 Ltd. and Guggenheim CLO 2019-1 LLC
|
| Amount: | $405.1 million
|
| Maturity: | Oct. 15, 2032
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | MUFG Securities America Inc.
|
| Manager: | Guggenheim Partners Investment Management LLC
|
| Call feature: | Two years
|
| Pricing date: | Sept. 6
|
| Settlement date: | Sept. 20
|
|
|
| Class A-1A notes
|
| Amount: | $250 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 143 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1B notes
|
| Amount: | $6 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: Non-rated
|
|
|
| Class A-2 notes
|
| Amount: | $42 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | S&P: AA
|
|
|
| Class B notes
|
| Amount: | $30 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 267 bps
|
| Rating: | S&P: A
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 370 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D notes
|
| Amount: | $16 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 698 bps
|
| Rating: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $37.1 million
|
| Securities: | Subordinated notes
|
| Rating: | Non-rated
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
